Textile Goods Exports Increase By 4.18% In Two Months

ISLAMABAD, (UrduPoint / Pakistan Point News – fifteenth Sep, 2022 ) :The exports of textile items elevated by 4.18 % in the course of the first two months of the present fiscal yr as in contrast with the corresponding month of final yr.

The textile items exports have been recorded at $3,056.387 million in July-August (FY2022-23) in opposition to the exports of $2,933.739 million in July-August (FY2021-22), exhibiting development of 4.18 %, in response to the newest knowledge launched by Pakistan Bureau of Statistics (PBS) on Thursday.

The textile merchandise that contributed in commerce development included uncooked cotton the exports of which elevated by 100 to $5.563 million in the course of the interval.

The different commodities that witnessed development in commerce included cotton fabric, the exports of which grew by 2.65 % to $377.374 million from $367.624 million and knit put on the commerce of which elevated by 16.95 %, from $756.522 million to $884.759 million.

Likewise, the exports of tents, canvas and tarpaulin elevated by 56.82, from $12.250 million to $19.210 million, readymade clothes by 8.49 %, from $584.941 million to $634.596 million and artwork, silk and artificial textile by 2.43 % from 69.202 million to $70.887 million.

The textile items that witnessed destructive development in commerce included cotton yarn, the exports of which declined by 17.03 %, from $193.389 million to $160.453 million.

The exports of cotton (carded or combed) declined by 89.61 %, from $0.770 million to $0.080 million, yarn (apart from cotton yarn) by 0.81 %, from $7.770 million to $7.

707 million, bedwear by 3 % from $528.109 million to $512.291 million, towels by 6.61 %, from $160.614 million to $150.001 million, madeup articles (excluding towels, bedwear) by 13.63 %, from $133.356 million to $115.183 million whereas the exports of all different textile supplies went down by 0.76 %, from $119.192 million to $118.283 million.

Meanwhile, on year-on-year (YoY) foundation, the textile items’ exports elevated by 7.71 % in August 2022 to $1,575.366 million in opposition to exports of $1,462.554 million in August 2021.

On month-on-month (MoM) foundation the textile items’ exports went up by 7.07 % in August 2022 when in comparison with the exports of $1,481.021 million in July 2022, in response to the PBS knowledge.

It is pertinent to say right here that the general merchandize exports from the nation witnessed a rise of three.75 % in the course of the first two months of the present fiscal yr as in comparison with the corresponding interval of final yr.

The general exports from the nation have been recorded at $4.759 billion throughout July-August (2022-23) in opposition to the exports of $4.587 billion recorded throughout July-August (2021-22).

On the opposite hand, the imports into the nation decreased by 9.25 % by declining from $12.152 billion final yr to $11.028 billion in July-August (2022-23).

Based on the information, the commerce deficit in the course of the interval underneath overview was recorded at $6.269 billion, exhibiting a lower of 17.13 % over the deficit of $7.565 billion recorded throughout final yr, the PBS knowledge revealed.